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MNT-Halan Raises Circa US $160 Million From International Investors to Fund Imminent Geographical Expansion Beyond Egypt
MNT-Halan, Egypt’s first unicorn and fastest-growing fintech leader, has raised a total of US $157.5 million ─ US $40 million from the International Finance Corporation (IFC) and the remainder from DPI (Development Partners International), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. The current round follows raises of US $400 million in January 2023 and US $120 million in September 2021, making the Egyptian native fintech extremely well positioned to further expand regionally.
MNT-Halan’s Founder and CEO, Mounir Nakhla, said: “While Egypt remains our primary market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders. Our M&A strategy capitalizes on our technology and industry expertise while leveraging our partners’ local knowledge, management capabilities, and licenses. We are happy to have the IFC on board and to see the continued confidence from our current shareholders through their participation in this round.”
Since its inception, MNT-Halan has grown over 20x to serve more than 7 million customers. It has continued to add new features and services to its customer centric digital ecosystem. The Halan app now includes all types of business and consumer loans, pre-paid cards, e-wallets, e-commerce, gold, and money market fund investments, with more services launching soon.
Maatouk Bassiouny & Hennawy and Van Campen Liem served as legal advisers to MNT-Halan for the transaction, and Hogan Lovells, Freshfields, and Gibson Dunn served as legal advisers to the subscribers. Arqaam Capital acted as financial advisers to GB Corp.
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